Second Hand Designer Shoes Market Worth US$ 893.9 Million by 2032 at a CAGR of 7.8% | FMI
The second hand designer shoes market is valuated at US$ 421.8 million as on 2022. It is anticipated to grow at a CAGR of 7.8% during the forecast period, and is anticipated to be valued at US$ 893.9 million in 2032.
The second hand designer shoes market is something which has been fulfilling the desire of people who want to remain in tune with the latest trends in the footwear market. These are one of the most preferred second hand designer accessories.
Moreover, while looking for second hand designer shoes, there is also a fun of thrift shopping, because of which there are unlimited options to explore. This allows us to explore certain types of shoes which are hard to find in a normal store. This is expected to increase the sales of second hand designer shoes.
Furthermore, reusing the second hand designer shoes also ensures that we make use of these shoes to their fullest capacity. This ultimately ensures the fact that we adopt the Reduce Reuse, and Recycle strategy. Meaning Reducing the unnecessary expenditure, reusing the second hand designer shoes, and making the recycling process easier by reducing redundant landfill.
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Apart from that, if we visit a brick and mortar store for buying second hand designer shoes, people usually come with a hope to get some deal. Unlike the new designer shoes which come with a fixed price, buying second hand designer shoes would give us a leeway to bargain a bit more on the low price that has been fixed by the store owner. This is further expected to surge the demand for second hand designer shoes.
There is a lot that is taken into account while manufacturing a brand-new designer shoe. Apart from the labour, the usage of non-renewable energy and natural resources ensure that the final material is manufactured based on the set specifications.
When such designer shoes are manufactured on a large scale basis, it will lead to depletion of resources hastily. The usage of second hand designer shoes not only reduces the consumption of such natural resources, but also reduces pollution because of reduced industrial activity. This is something which supports the idea of sustainable development.
Thus from the analysis, it is very clear that ‘Collection of latest styles of shoes, coupled with extremely low cost and many other factors are expected to increase the demand for second hand designer shoes during the forecast period.’
- The valuation of second hand designer shoes market is valuated at US$ 421.8 million as on 2022.
- The anticipated valuation of second hand designer shoes in 2032 is US$ 893.9 million.
- The anticipated CAGR for the forecast period is 7.8%.
- Based on the end use, the women’s segment leading the way.
- Based on the distribution channel, the offline channel had the highest market share.
- The North American second hand designer shoes market had a share of 13.2%.
- The European second hand designer shoes market had a share of 18.6%.
- Asia Pacific is expected to be the fastest growing market during the forecast period.
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The key market players operating in the second hand designer shoes market are taking initiatives from their side to make their interface user friendly. For this, they are launching features allowing buyers to make an offer on any listing at the click of a button. This will help buyers get the best deals by enabling an easier, quicker, and more accessible negotiation process.
Some of the recent developments are:
- In May 2022, Depop partnered with EcoEnclose to bring its US sellers more sustainable packaging solutions.
- In March 2022, Tradesy was acquired by Vestiaire Collective SA, a global online pre-owned fashion marketplace, headquartered in Paris.
Key Companies Profiled
- ASOS Marketplace
- Mosh Posh
- The RealReal
- Vestiaire Collective
Second Hand Designer Shoes Market Segmentation
By End Use:
By Distribution Channel:
- North America
- Latin America
- Asia Pacific
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